Africa to combat money laundering

Abidjan- Cote d'Ivoire (PANA) -- The 15-member-nation CFA monetary zone has announced the promulgation of laws next year against money laundering in the subregion.
A press statement issued at the end of the bi-annual meeting of the Council of Economy and Finance Ministers of the zone in Abidjan said the fight against money laundering would be taken seriously throughout Africa.
Quoting the French minister of Economy, Finance and Industry, Laurent Fabius, the statement said African countries would have to "position themselves correctly".
He further urged African countries to join other regions in setting up enforcement institutions that have produced significant results in several Western and Asian countries.
Fabius said that following the adoption of the legislation, international institutions would come in to ensure that the countries concerned apply the measures stipulated by the control instrument.
Meanwhile, the Council of Ministers of the zone have appealed to the drug enforcement liaison committee in the zone to continue informing, sensitising and giving technical expertise to initiatives undertaken by member states.

27 april 2001 22:20:00

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